All Forum Posts by: Deshaun Wilson

What a great mindset to have at your age! The best advice I can give you starting out is to stay out of consumer debt and save as much money as you can. Short-term sacrifices and delaying gratification will bring you abundance later in life.

Definitely take advantage of your first-time home buying benefits and consider house hacking a duplex or 4-plex. While you may not make significant passive income renting the other side or the other three units, you can probably cut your living expenses in half or even live for nearly free in a 4-plex.

If I had to do it all over again, I would have taken this approach at your age and purchased a 4-plex every year or so with minimal down payment. By the time you're 30 years old, you could have 40 doors if you purchase one 4-plex a year.

Hello @Deshaun Wilson and welcome to BiggerPockets!

Man!!... this post got me fired up! I did not have your mentality at 21.

I'd say you are headed in the right direction with the strategy you are considering - househacking.

You'll be able to use a low-down payment option, learn to manage properties, create systems for managing maintenance projects, have your tenants pay most or all of your mortgage,... the list goes on.

There will definitely be hurdles but like you said...you'll make it work!

While a lot of what you'll learn will be from experience, I do think there are some resources to increase your knowledge base and give you more confidence as you take your next steps.

One book I'd highly recommend starting with is The book on managing rental properties. 

That book will help you tremendously. 

Plenty of other books and resources out there but if your short-term goal is to get started with property #1, I'd start with that book and others from the BiggerPockets bookstore.

All the best!

Abel